This Module contains the Central Bank of Bahrain ('CBB') Directive (as amended from time to time) regarding authorisation under Volume 5 of the CBB Rulebook. It is applicable to all licensees (as well as to approved persons), and is issued under the powers available to the CBB under Article 38 of the Central Bank of Bahrain and Financial Institutions Law 2006 ('CBB Law'). CBB-licensed fund administrators and registrars must also comply with Resolution No. 1 of the year 2007 'new license fees system' (as amended from time to time). Requirements regarding the obligation to hold a license and the conditions for issuing such a license are also included in Regulations, to be issued by the CBB.